Elo Mutual Pension Insurance Co Grows Position in Garmin Ltd. (NYSE:GRMN)

Elo Mutual Pension Insurance Co boosted its stake in shares of Garmin Ltd. (NYSE:GRMN) by 0.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,056 shares of the scientific and technical instruments company’s stock after acquiring an additional 70 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Garmin were worth $2,290,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Dorsey & Whitney Trust CO LLC grew its position in shares of Garmin by 3.3% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 2,309 shares of the scientific and technical instruments company’s stock valued at $344,000 after purchasing an additional 73 shares in the last quarter. UMB Bank n.a. increased its stake in Garmin by 2.6% in the 2nd quarter. UMB Bank n.a. now owns 2,879 shares of the scientific and technical instruments company’s stock worth $469,000 after acquiring an additional 74 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Garmin by 17.6% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 542 shares of the scientific and technical instruments company’s stock worth $81,000 after acquiring an additional 81 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Garmin by 3.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,629 shares of the scientific and technical instruments company’s stock valued at $428,000 after acquiring an additional 86 shares during the last quarter. Finally, Trust Co. of Vermont grew its holdings in shares of Garmin by 18.4% in the second quarter. Trust Co. of Vermont now owns 592 shares of the scientific and technical instruments company’s stock valued at $96,000 after purchasing an additional 92 shares in the last quarter. 73.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Garmin news, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the sale, the insider now owns 40,965 shares in the company, valued at $7,257,359.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Philip Straub sold 2,750 shares of Garmin stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $181.46, for a total transaction of $499,015.00. Following the completion of the sale, the director now owns 88,622 shares of the company’s stock, valued at $16,081,348.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cheng-Wei Wang sold 10,055 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $177.16, for a total value of $1,781,343.80. Following the completion of the transaction, the insider now directly owns 40,965 shares in the company, valued at approximately $7,257,359.40. The disclosure for this sale can be found here. In the last three months, insiders sold 12,892 shares of company stock valued at $2,296,174. Insiders own 19.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GRMN shares. Barclays downgraded shares of Garmin from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $181.00 to $133.00 in a research note on Friday, September 13th. Tigress Financial upped their target price on shares of Garmin from $210.00 to $215.00 and gave the company a “strong-buy” rating in a research report on Thursday. Finally, StockNews.com lowered Garmin from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $152.17.

Garmin Trading Up 1.1 %

Garmin stock opened at $171.76 on Friday. Garmin Ltd. has a 12-month low of $99.61 and a 12-month high of $184.42. The firm has a 50-day moving average price of $174.44 and a 200-day moving average price of $162.10. The firm has a market capitalization of $32.99 billion, a PE ratio of 24.23, a price-to-earnings-growth ratio of 3.16 and a beta of 1.00.

Garmin (NYSE:GRMN) last announced its quarterly earnings data on Wednesday, July 31st. The scientific and technical instruments company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.18. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.42 billion. Garmin had a net margin of 24.36% and a return on equity of 17.09%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.45 earnings per share. As a group, sell-side analysts predict that Garmin Ltd. will post 6.05 earnings per share for the current fiscal year.

Garmin Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.